Nokia Moves 5.6M Windows Phones, Trims Losses in Q1
April 18, 2013 4:50 PM
Things still aren't great, but Nokia appears to be head in the right direction
Nokia Oyj. (
) has been on a wild ride. For a time it was the largest maker of both smartphones (via its Symbian platform) and feature phones. Then came its struggles to compete with Apple, Inc. (
) and Android, and the
decision to embrace
Microsoft Corp.'s (
) Windows Phone. The bold move seemed to only
hasten Nokia's fall from grace
on the market.
But while it's true that the Nokia of today is
and less profitable than the Nokia of yore, it also appears to be returning from the brink and returning to growth.
In Q1 2013 it
[PDF] a humble 5.6 million Lumia phones, up from
4.4m during the holiday quarter
2 million a year ago
. To put that in context, rival Samsung Electronics Comp., Ltd. (
) sold around 68 million smartphones in the quarter, while the low estimate for Apple's sales is around 34 million.
In other words, Nokia is still a small player, but it's seeing steady growth in its core Windows Phone platform. True, 2 million sales is pathetic, but doubling your sales is still doubling your sales.
And Nokia's balance sheet is also improving. A year ago it made €7.4B ($9.7B USD), but lost €1.34B ($1.70B USD). This quarter it only made €5.9B ($7.7B USD), but trimmed the losses down to €150M ($196M USD). That red may be troubling given that it made €202M ($269.0M USD) in total profit after tax last quarter. But it's not as bad considering that this wasn't a key launch quarter for Nokia smartphone-wise and the holiday quarter tends to be more profitable for all OEMs.
Nokia Lumia 920
The phonemaker did miss analyst targets -- the consensus target for revenue was €6.5B ($8.5B USD), while the loss was roughly in line with the ~€160M ($209M USD) estimate [
Shares in the Finnish phonemaker traded lower on the revenue miss, but that will inevitably turn around if the company continues to grow its Windows Phone sales. Looking ahead, this fall's Windows Phone Blue will be a critical launch for Nokia.
In the meantime the company reportedly has a few devices up its sleeve. It's planning a July refresh to the Lumia 920 that's thinner and lighter, and planning a more affordable version of the 920 for the autumn. Also slated for July will be the long-awaited
Windows Phone version
of the PureView device.
The Nokia PureView 808 [Image Source: Nokia; Modifications: Jason Mick/DailyTech]
reports that a phablet is also in the works,
The device that can work as a phone and a tablet – known as a “phablet” – similar in size but with more advanced specifications to Samsung’s popular Galaxy Note.
This is a key emerging category -- Samsung is leading the way with the Galaxy Mega. Nokia is likely eager to take a piece of the jumbo phone pie as well.
FT [analyst estimates]
FT [phablet details]
"I'd be pissed too, but you didn't have to go all Minority Report on his ass!" -- Jon Stewart on police raiding Gizmodo editor Jason Chen's home
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